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Berkadia Arranges $25.5M Sale of Apartment Community on Florida’s East Coast

Built in 2005 in Palm Coast, Fla., Pine Lake Apartments features one-, two- and three-bedroom floor plans.

Built in 2005 in Palm Coast, Fla., Pine Lake Apartments features one-, two- and three-bedroom floor plans.

PALM COAST, FLA. — Berkadia has arranged the $25.5 million sale of Pine Lake Apartments, a 184-unit multifamily community located at 121 Pine Lakes Parkway North in Palm Coast, a city on Florida’s east coast about 25 miles south of St. Augustine. Built in 2005, the property features one-, two- and three-bedroom floor plans. Community amenities include a resort-style pool, poolside fire pit, hammock lounge, grilling areas, a fitness center, detached garages and a dog park. Pine Lake Apartments is adjacent to the Indian Trails Sports Complex and roughly five miles from the Atlantic Ocean. Cole Whitaker, Mary Beale, Jason Stanton and Greg Rainey of Berkadia represented the seller, Massachusetts-based Palm Coast Waterchase LLC, in the transaction. The buyer was Missouri-based Pine Lake Acquisitions LLC.

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